National Aluminium Company Ltd has won the Engineering Export Promotion Council's All India Export award in the "star performer" category for 2005-06, the firm said on Friday.
The Gems & Jewellery Export Promotion Council (GJEPC), the apex body set up by the Union ministry of commerce to monitor the jewellery business overseas, says it might call for pulling out of the diamond cutting and polishing business in China.
Gem and Jewellery Export Promotion Council on Wednesday said it expects to attract foreign direct investment worth $2 billion in this fiscal besides a growth of 20-25 per cent.
India pays 55% of the value of oil its imports from Iran in euro payments through Turkey's Turkiye Halk Bankasi.
'Obviously, MSP hike raises chances of a reduction in exports. Even without an MSP hike, India's exports of a number of agri-commodities, like sugar, were unviable in the overseas markets.'
The exports have shown a fall of 6% during the first 11 months of fiscal 2006-07.
The only category of pharmaceuticals that showed a negative growth in exports this time was herbal products, exports of which stood at $299 million as compared to $ 312 million in the previous year.
Imports too declined by 16.31 per cent to $37.39 billion.
"Indians will decide the fate of India, not the foreigners," Verma told the Montreal Council on Foreign Relations, a prominent think-tank.
'Wherever the government has provided incentives for the purchase of two-wheelers, three-wheelers, cars, buses, and trucks, it gets a push for most of these alternate fuels. '
The Russian currency depreciated by 24 per cent in the past month to trade at 56.54 to the dollar at present, a sharp recovery after hitting a low of 68 in early December.
During 2012-13, the gems and jewellery exports declined by 9.4 per cent year-on-year to $39 billion due to sluggish demand in traditional markets.
The Ministry of Micro, Small and Medium Enterprises (MSME) has received "positive" feedback from industry regarding the 45-day payments cycle for MSMEs, according to a senior official familiar with the matter. The comment assumes significance amid concerns raised by some MSMEs that big companies may stop buying from small and medium suppliers and instead choose to make purchases from unregistered enterprises.
Exports of jewellery from India have gone up 32 per cent in the last two months ended May thanks to increasing demand and sale diamonds abroad.
The GST Council on Saturday is expected to extend the date for IGST exemption and cess on imports
From toys, footwear and furniture to insulated flasks, smart meters, and air coolers - the Central government over the last decade has mandated higher standards for production and imports of such items. Sample this: Till 2014, there were 14 Quality Control Orders (QCOs) covering 106 products. By the latest count, there are 156 QCOs on 672 products.
Finance Minister P Chidambaram on Tuesday assured leather exporters of shielding them from the strengthening rupee against the dollar and asked the community to look at high-value exports to boost overseas sales.
Gems and Jewellery exports from India would exceed $10 billion in 2003-04 as against the $9.1 billion in the last fiscal even as exporters have set a target of $16 billion by 2007.
Besides, the council has sought reduction in customs duty on import of seashells.
The issue has assumed serious proportions now. Suranjan Gupta, senior joint director, Engineering Export Promotion Council, said, many containers were being detained in Europe, to the extent that the steel ministry convened a meeting last week to discuss the matter. Europe accounts for 70 per cent of India's annual engineering exports of $33 billion.
Sectors with positive growth during the month include rice, iron ore, oil seeds, oil meals, meat, dairy and poultry products, pharmaceuticals, coffee, engineering goods, and plastic.
Imports rose by 1.44 per cent to $43.44 billion in March 2019.
Rupee depreciation pushes apparel exporters' margins by 5-7%.
With the government asking the companies to operate with only 50 per cent staff strength, and exports dipping to almost zero, the truck and bus drivers idling at the petrol pump say they hardly have any work now. At a petrol pump on the deserted Bavla-Changodar highway near Ahmedabad in Gujarat, several trucks and buses are neatly parked in a row.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
Finance Minister Pranab Mukherjee on Tuesday met exporters, a day after the release of the April export data which showed the sharpest fall in overseas shipments in 14 years, assuring them he would do his best in the Budget.
In a significant move, the Cabinet Committee on Security (CCS) has accorded approval for the procurement of more than 200 BrahMos supersonic cruise missiles and associated equipment for the Indian Navy at a cost of around Rs 19,000 crore, people familiar with the matter said on Thursday.
Industry body CII on Thursday made a case for pushing reforms in sectors like land, labour, and agriculture by the Modi 3.0 government to accelerate economic growth, which is estimated to be around 8 per cent in the current financial year. CII president Sanjiv Puri said a lot of policy interventions in the past have put the economy on "a much stronger wicket". "The growth rate is poised to touch 8 per cent during the current year, marking the fourth consecutive year of above 7 per cent + growth.
The domestic technology industry's revenue is projected to grow 3.8 per cent to $254 billion this fiscal, industry body Nasscom said on Friday and highlighted creation of 60,000 more jobs during this period. The industry had clocked a revenue of $244.6 billion in the same period last year, according to Nasscom's annual strategic review report. Excluding hardware, the revenue is expected to touch $199 billion, a growth of 3.3 per cent over FY23, as per the report.
In September last year, the exports stood at $3.5 billion, according to the Gems and Jewellery Export Promotion Council.
Imports during October also rose by 17.62 per cent to $44.11 billion, leading to widening of trade deficit to $17.13 billion.
The steep depreciation of rupee will not give an immediate advantage to the country's exporters.
'The die is cast. The wave is for her.' 'We will win this. The numbers are going to be higher than people are saying.' 'It is going to be more closer to Obama's numbers than Biden's numbers.'
Commerce Minister Arun Jaitley will take up with Finance Minister Jaswant Singh the issue of hardening rupee and its impact on exports to ensure that growth is sustained without exporters having to curtail their profit margins.
The Centre has already given packages to exporters, now states should come forward to compensate the affected export sectors, Finance Minister P Chidambaram said at the 54th meeting of the National Development Council in New Delhi on Wednesday. Besides giving some incentives to exporters, he said states should also initiate measures to improve functioning of the public distribution scheme. The Centre has to spend Rs 3.56 to given Re 1 benefit under PDS.
The engineering exports in the first month of 2009-10 plunged to $2.78 billion from $3.8 billion in the same month a year ago, according to the Engineering Export Promotion Council. However, the decline in April was not as sharp as in March, when the exports contracted by 34 per cent over the same period last year.
Out of 30 key export sectors, as many as 22 showed negative growth in September.
